Dublin, Aug. 25, 2023 (GLOBE NEWSWIRE) -- The "Global Fish Oil Market, Size, Forecast 2023-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Fish Oil Market is expected to value around US$ 3.62 Billion by 2030 from $2.29 billion in 2022, growing at a CAGR of 5.89%
This surge in market value can be attributed to the surging demand for fish oil driven by increasing health consciousness and awareness of its benefits, particularly its rich omega-3 fatty acids that mitigate risks associated with heart disease, stroke, depression, and Alzheimer's disease.
Consumption of fish oil on a global scale surged to 3.6 million metric tons in 2022, a growth of 5.6% from the previous year. This surge is propelled by several factors, including heightened awareness of the health merits of fish oil and the increasing demand for fitness and wellness.
One notable trend is the popularity of fish oil supplements, offering a convenient source of omega-3 fatty acids, along with the expansion of the aquaculture sector, driving up the demand for fish oil as an essential feed ingredient. As these trends continue, the trajectory of global fish oil consumption is expected to ascend consistently.
The burgeoning growth in the fish oil market is underpinned by the expanding demographic of those aged 65 and above across the globe. Countries like Japan, where over a quarter of the population falls into this age group, are witnessing notable consumption of omega-3 fish oil to mitigate cardiovascular risks in aging individuals. This trend is set to spread to other corners of the world, driven by the rising consciousness of health and well-being among senior consumers.
Denmark is slated to retain its prominent role as a primary exporter of fish oil, leveraging its history of innovation, investment in Research and Development (R&D), and adherence to sustainable fishing practices. Similarly, Norway holds the mantle of global fish oil import leader due to its robust aquaculture industry and high consumption of fish oil supplements. Meanwhile, the dominance of Peru in fish oil production remains unchallenged, with its abundant anchovy population and advanced production facilities securing its position as a leading producer in the market.
The pharmaceutical application of fish oil continues to flourish, acting as a valuable source of omega-3 fatty acids that have demonstrated effectiveness in clinical trials, particularly in reducing heart disease risks. The escalating global demand for farmed fish, driven by population growth, urbanization, and increasing incomes, is bolstering the use of fish oil as a feed supplement.
As mackerels rise to prominence as a popular species in the fish oil market, specialty stores and hypermarkets are anticipated to shape its distribution landscape due to rising consumer demand for effective omega-3 supplements.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 280 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $2.29 Billion |
| Forecasted Market Value (USD) by 2030 | $3.62 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
Company has been covered from 3 Viewpoints:
Company Analysis: Overview, Recent Developments, Revenue
- FMC Corporation
- Croda International Plc
- Mukka Proteins Limited
- FKS Multi Agro
- GC Rieber Oil
Report Scope
Export - Global Fish Oil Market break up in 10 viewpoints
- Peru
- Denmark
- the United States
- China
- Norway
- Chile
- Iceland
- Morocco
- France
- Japan
Import - Global Fish Oil Market break up in 10 viewpoints
- Norway
- China
- Denmark
- Canada
- the United States
- Chile
- Turkey
- Netherlands
- France
- Greece
Production - Global Fish Oil Market break up in 10 viewpoints
- Peru
- Vietnam
- Chile
- USA
- Japan
- China
- Norway
- Denmark
- Iceland
- Others
Application - Global Fish Oil Market break up in 6 viewpoints
- Animal Nutrition & Pet Food
- Aquaculture
- Cosmetic & Therapeutic
- Pharmaceuticals
- Supplements & Functional Food
- Others
Species - Global Fishmeal Market break up in 7 viewpoints
- Anchovy
- Mackerel
- Sardines
- Cod
- Herring
- Menhaden
- Others
Distribution Channel - Global Fishmeal Market break up in 4 viewpoints
- Hypermarkets & Supermarkets
- Online Stores
- Specialty Stores
- Others
For more information about this report visit https://www.researchandmarkets.com/r/mkc7pp
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